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Nigeria’s debt crosses dangerous threshold - Speaker Abbas warns
Nigeria's public debt reached N149.39 trillion ($97 billion) in early 2025, exceeding the 40% debt-to-GDP legal limit at 52%, prompting calls for urgent reforms and regional oversight.
- Nigeria's total public debt reached ₦149.39 trillion as of the first quarter of 2025, surpassing the legal borrowing limit.
- This rising debt follows a trend across Africa, where many countries face unsustainable debt-to-GDP ratios and prioritize debt servicing over essential services.
- At the 11th WAAPAC Conference in Abuja, Speaker Abbas Tajudeen urged urgent reforms to strengthen oversight, transparency, and citizen participation in managing debt sustainably.
- Abbas revealed Nigeria’s intention to lead the development of a regional framework through WAAPAC that will standardize debt reporting, establish clear transparency criteria, and provide parliamentary committees with advanced tools to effectively monitor borrowing across West African countries.
- The situation demands coordinated parliamentary action to ensure borrowing funds support infrastructure, health, education, and job-creating industries, safeguarding fiscal stability and development.
15 Articles
15 Articles
Speaker Abbas: Africa’s debt at critical point
The Speaker of the House of Representatives, Abbas Tajudeen, has raised concern over rising debt profiles across African countries, saying recent available data shows that the debt trajectory has reached a critical point in most of the countries. Speaking in Abuja yesterday at the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC), organised by the House of Representat…
Reps speaker raises alarm over Nigeria’s rising debts, says country owes N149trn
The speaker cautioned that Nigeria’s debt profile had now reached a critical point, underscoring the urgency of reforming oversight mechanisms and ensuring that all borrowing decisions are anchored in transparency, prudence, and tangible social impact The post Reps speaker raises alarm over Nigeria’s rising debts, says country owes N149trn appeared first on Premium Times Nigeria.
“Public debt can drive growth” - Abbas makes u-turn, denies criticising government borrowing
GistReel The Speaker of the House of Representatives, Tajudeen Abbas, has denied reports that he condemned government borrowing, saying that his words were misquoted and taken out of context. While speaking at the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees, Speaker Abbas had raised concerns over Nigeria’s rising debt levels, describing the situation as “critical” and urging reforms in…
House Of Reps Speaker, Tajudeen Denies Comment On Nigeria’s Debt Profile
Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has denied media reports suggesting that he condemned government borrowing.…The post House Of Reps Speaker, Tajudeen Denies Comment On Nigeria’s Debt Profile appeared first on The Liberation News Nigeria.
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